Dubai Sports City Able To Create Its Own Hype?

Dubai property is having a pretty rough ride at the moment, with a lot of negative press about Dubai property currently filling the airways, and plenty of dissatisfied investors. Whilst it is wrong to think Dubai property and Dubai developers as a whole have come into problems, there are still large sectors of the market that leave a lot to be desired. And it is this that has really hurt investor confidence in the underlying principles of the Dubai real estate property market. As a result of this negative publicity, rampant property speculation and the world global financial crisis, residential property in the Dubai freehold real estate market has seen prices in some developments decline by as much as 50%, and estimates say the market as a whole has declined some 30%!

All of which makes attracting property investors back into the market proves somewhat of a challenge, which again hits property prices. All of which looks pretty gloomy for Dubai developments. However this might not be the case for all developments according to the boss of one of Dubai’s most popular developments. One of the senior spokesmen for Dubai Sports City insists such projects are now able to create their own hype, and avoid the price drops seen elsewhere in the Dubai real estate market.

Dubai Sports City is one of a number of ‘mega projects’ that feature a huge array of property plus other facilities, and are built using a city within a city premise. Dubai Sports City costs an estimated AED 4 billion, and covers some 50 million square feet. It forms just one part of the much large Dubailand. Dubai Sports City has proven a massive hit with property investors, and has already seen property handed over, including villa development Victory Heights. So could developments like Sports City really ride out the property crash and create their hype by using the strengths of surrounding sub projects, or is this just a good idea from a marketing perspective?

On present showing developments like Dubai Sports City are still looking a popular destination for investors, but then from the start they have enjoyed good press, and avoided many of the pitfalls that other projects have encountered. Whether this lasts the duration of the property crash remains to be seen, but for the time being Dubai Sports City looks like a good bet.
 

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